Bullish and bears in iShares Emerging Markets Fund as implied volatility spikes
Bullish and bears in iShares Emerging Markets Fund as implied volatility spikes. The ETF down $1.27 to $48.24 and one player buys 10K Apr 47.5 puts for 75c, tied. Nearly 20K trade at that strike. Separately, 15K Mar 23rd 46.5 puts trade at 9c (likely closing) and 15K Mar 29th 45 puts for 14c (opening). Meanwhile, Apr 49, 50, 50.5, and 51.5 calls are most active in the product, being driven by an Apr 49 - 50 - 50.5 - 51.5 call butterfly spread, which appears to roll long April 50 - 51.5 call spreads opened earlier this week to a new bullish position in April 49 - 50.5 call spreads. 48.7K Apr 49 calls have changed hands. Apr 50, 50.5, and 51.5 calls have all traded more than 35K. Total volume is 180K calls and 130K puts and 30-day implied volatility is up 16 to 21.2, in the 95th percentile of the 52-week range.